Triggering Event of Default definition
Examples of Triggering Event of Default in a sentence
The right of a Note B Holder to exercise its purchase option hereunder shall automatically terminate upon the Purchase Right Cut-Off Date, subject to the possibility that such right will be reinstated if a Triggering Event of Default subsequently occurs.
The right of the Note B Holder to exercise its purchase option hereunder shall automatically terminate upon the Purchase Right Cut-Off Date, subject to the possibility that such right will be reinstated if a Triggering Event of Default subsequently occurs.
Agent shall have the right to apply the funds on account in any Prepayment Account if such application shall not result in any breakage costs or upon the occurrence of an Event of Default or Triggering Event of Default.
The market value and the maximum number of shares of Common Stock into which the Debenture is convertible shall be determined using the higher of the average of the closing prices of a share of Common Stock, as reported by the principal stock exchange upon which shares of Common Stock are traded, for the 20 trading days prior to (i) the day of the public announcement of a Triggering Event of Default or (ii) the day of the event giving rise to the to the Triggering Event of Default.
If the Secured Parties so request after the occurrence of and during the continuance of a Triggering Event of Default, any amounts received by the Guarantor in contravention of the foregoing shall be held by the Guarantor as trustee for the Secured Parties and shall be paid over to the Secured Parties on account of the Guaranteed Obligations, but without reducing or affecting in any manner the liability of the Guarantor under this Guaranty.